SHANXI COKING COAL ENERGY GROUP CO., LTD.

Financials Shanxi Coking Coal Energy Group Co., Ltd.

Equities

000983

CNE0000013Y5

Coal

End-of-day quote Shenzhen S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
10.52 ^CNY	-2.23%		-6.98%	+6.48%

Apr. 23	Shanxi Coking Coal Energy's 2023 Profit Slides 37% as Operating Income Falls 15%	MT
Apr. 22	Shanxi Coking Coal Energy Group Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	19,317	23,105	33,879	47,725	56,090	59,723	-	-
Enterprise Value (EV) ¹	30,686	34,334	40,777	43,836	45,941	38,651	36,124	59,723
P/E ratio	11.3 x	11.8 x	8.13 x	5.58 x	8.04 x	8.9 x	8.37 x	7.92 x
Yield	1.63%	1.77%	9.67%	10.3%	8.1%	7.51%	7.1%	9.65%
Capitalization / Revenue	0.59 x	0.68 x	0.75 x	0.73 x	1.01 x	1.1 x	1.07 x	1.05 x
EV / Revenue	0.93 x	1.02 x	0.9 x	0.67 x	0.83 x	0.71 x	0.65 x	1.05 x
EV / EBITDA	4.54 x	5.6 x	3.94 x	2 x	2.93 x	2.47 x	2.39 x	3.62 x
EV / FCF	5,473,082 x	13,550,689 x	-	-	-	-	-	-
FCF Yield	0%	0%	-	-	-	-	-	-
Price to Book	0.94 x	1.23 x	1.5 x	1.44 x	1.49 x	1.5 x	1.4 x	1.29 x
Nbr of stocks (in thousands)	4,096,560	4,096,560	4,096,560	4,096,560	5,677,101	5,677,101	-	-
Reference price ²	4.715	5.640	8.270	11.65	9.880	10.52	10.52	10.52
Announcement Date	4/20/20	4/26/21	4/14/22	4/24/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	32,955	33,757	45,285	65,183	55,523	54,071	55,808	56,892
EBITDA ¹	6,752	6,136	10,337	21,891	15,675	15,659	15,089	16,507
EBIT ¹	3,809	3,128	7,205	18,008	11,790	11,368	12,083	12,746
Operating Margin	11.56%	9.27%	15.91%	27.63%	21.23%	21.02%	21.65%	22.4%
Earnings before Tax (EBT) ¹	3,035	3,109	7,029	18,004	11,647	11,442	11,968	12,630
Net income ¹	1,710	1,956	4,166	10,722	6,771	6,964	7,143	7,553
Net margin	5.19%	5.8%	9.2%	16.45%	12.2%	12.88%	12.8%	13.28%
EPS ²	0.4175	0.4775	1.017	2.089	1.228	1.182	1.257	1.328
Free Cash Flow	5,607	2,534	-	-	-	-	-	-
FCF margin	17.01%	7.51%	-	-	-	-	-	-
FCF Conversion (EBITDA)	83.03%	41.29%	-	-	-	-	-	-
FCF Conversion (Net income)	327.83%	129.52%	-	-	-	-	-	-
Dividend per Share ²	0.0769	0.1000	0.8000	1.200	0.8000	0.7900	0.7467	1.015
Announcement Date	4/20/20	4/26/21	4/14/22	4/24/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4
Net sales	-	-	-	-	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-	-	-
EPS ¹	0.3000	0.2500	0.5996	0.7900	0.6400	0.0600	0.4747	0.3700	0.1900	0.2000
Dividend per Share	-	-	-	-	-	-	-	-	-	-
Announcement Date	10/28/21	4/14/22	4/28/22	8/8/22	10/17/22	4/24/23	4/24/23	8/7/23	10/25/23	4/22/24

¹CNY

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	11,369	11,229	6,898	-	-	-	-	-
Net Cash position ¹	-	-	-	3,889	10,149	21,072	23,599	-
Leverage (Debt/EBITDA)	1.684 x	1.83 x	0.6673 x	-	-	-	-	-
Free Cash Flow	5,607	2,534	-	-	-	-	-	-
ROE (net income / shareholders' equity)	8.5%	9.17%	20.2%	36.7%	18.7%	17%	15.4%	15.7%
ROA (Net income/ Total Assets)	2.63%	2.75%	5.9%	11.3%	-	7.23%	7.5%	7.8%
Assets ¹	65,077	71,035	70,555	94,618	-	96,319	95,197	96,878
Book Value Per Share ²	4.990	4.570	5.510	8.070	6.630	7.020	7.520	8.140
Cash Flow per Share ²	1.840	1.280	2.690	4.130	2.410	1.940	2.350	2.370
Capex ¹	1,927	2,708	1,333	1,812	2,059	3,651	3,562	2,859
Capex / Sales	5.85%	8.02%	2.94%	2.78%	3.71%	6.75%	6.38%	5.03%
Announcement Date	4/20/20	4/26/21	4/14/22	4/24/23	4/22/24	-	-	-

¹CNY in Million²CNY

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Shanxi Coking Coal Energy Group Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.52 CNY

Average target price

11.94 CNY

Spread / Average Target

+13.53%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Coal

	1st Jan change	Capi.
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SHAANXI COAL INDUSTRY COMPANY LIMITED	+19.96%	33.53B
YANKUANG ENERGY GROUP COMPANY LIMITED	+11.73%	20.45B
CHINA COAL ENERGY COMPANY LIMITED	+7.75%	18.4B
SHANXI LU'AN ENVIRONMENTAL ENERGY DEVELOPMENT CO., LTD.	-4.70%	8.62B
INNER MONGOLIA YITAI COAL CO.,LTD	+19.73%	5.4B
JIANGSU XUKUANG ENERGY CO., LTD.	+0.36%	5.26B

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